Laine Gordon

Savers get a boost as new highest rate hits 4.60% for all adults

It’s showtime for the highest savings accounts as banks break the 4.5 per cent savings rate barrier on the back of the RBA’s historic eighth consecutive cash rate rise.

Credit card debt back on the rise, as people struggle to clear their bills

Australian households have given their credit cards a workout this month, with the value of transactions and debt attracting interest now on the rise.

Another 0.25% RBA hike likely tomorrow – how high could repayments go?

The Reserve Bank is tipped to hike the cash rate again tomorrow by 0.25 percentage points, taking it to 3.10 per cent – the highest rate in over a decade.

ANZ cuts new customer variable rates as existing borrowers face 8th hike in 8 months

ANZ has today cut the rates on its basic home loan for new customers, as existing variable borrowers face their eighth hike in as many months.

BNPL industry to face tougher regulation, as survey finds users still falling into strife

RateCity.com.au welcomes the government’s move to regulate the burgeoning buy now, pay later sector, and warns any change must protect people from accessing multiple debts they can’t afford to repay.

The 5-minute move that could boost savings by up to $1,968 in a year

Australians with money in the bank are finally starting to see some decent rates on their deposits after seven RBA hikes. However, not all savers are being treated equally as banks pick and choose which accounts to reward with higher rates.

Credit card debt continues to defy RBA hikes

Credit card debt from Australian households attracting interest charges has fallen for the third month in a row, defying the RBA rate hikes.

New highest savings rate hits 4.30%

The highest ongoing savings rate has now hit 4.30 per cent, and it is available for all adults. ING has announced today it will hike its popular Savings Maximiser account by 0.25 percentage points to 4.30 per cent from next Tuesday, for balances up to $100,000.

CBA rewards savers as the bank announces its RBA response

Australia’s biggest bank, CBA, has followed NAB, by announcing it will pass on yesterday’s 0.25 percentage point RBA hike in full to its variable mortgage customers. Unlike NAB, CBA has also revealed what it will do for its savings customers, announcing rate hikes for each of its key savings accounts, in most cases by more than the 0.25 percentage point hike.